Skip to main content

About your Search

20121205
20121213
Search Results 0 to 49 of about 57 (some duplicates have been removed)
>>> the clock is running out on the fiscal cliff. i'll talk to the former cabinet secretary who says going over the cliff is better than getting a bad deal. >>> the auto industry is back. what it's doing right in a soft economy? we'll find out what's driving profitability. >>> curtain's up on the billion dollar woman who made the lion roar, julie taymor. >> we never had a complaint about it. >> "the wall street journal report" begins right now. now, maria bartiromo. >> here's a look at what's making news. some surprisingly good news about america's economy. the labor department says 146,000 new jobs were created in the month of november. much better than economist's expectations. the unemployment rate dropped two tenth of a% at 7.7%. the labor department also says superstorm sandy had little effect on those numbers. >>> the markets continued their familiar pattern of following the latest word or words or hopes on fiscal cliff. no major moves during the week but several times the market ran out of steam to the end of the trading session. the house of representatives left for a lo
harry reid warned it will be tough to reach a deal to avoid the fiscal cliff before christmas. we all note deadline, december 31. take a look at how we're finishing the day. the dow jones industrial average up about 80 points today. it was higher, much higher than 100 points earlier today, up two-thirds of 1%. volume on the light side this afternoon. nasdaq composite picked it up. technology up better than 1%. s&p 500 also on the upswing. markets maintaining steady gains all day long. david kudlow and bob pisani and barbara from the street. welcome to all of you. what about coming off the best levels? >> hitting search-week highs. 13,245 is where we ended the night of election and waiting for it to settle out. 13,248, so we are exactly where we were when the elections closed. i think the important thing is as long as there is some indication that they are talking the markets are holding up very well. i think the concern is after a deal happens, i think we'll have it, what will happen after, that and a lot of people are worried now that austerity is coming. that's a negative for stocks
at the new york stock exchange. as we hurry toward the edges of the fiscal cliff, this market holding its breath. but holding up. >> yes, so far. technology one of the few bright spots with apple rebounding after that huge decline we saw yesterday. its worst day in four years. it's got everybody on wall street scratching their heads trying to figure out what the problem is with apple. at any rate, here's where we stands right now. sort of a meandering day for the markets. some economic data out this morning. the market responding to that. then a sideways move after that. the nasdaq benefitting from the rebound in technology yesterday. up 11.5 points on the thatnasda. the s&p is also trading higher. there it is. up 2.5 points on the s&p. >> meanwhile, bullish sentiment at an eight-month high right now. equity allocation is still at the lowest level of the year according to the american association of individual investors survey that was out this weekend. stock in a wait-and-see mode. totally understandable until these fiscal issues are resolved. >> but don't just sit on your hands. there i
on wall street modestly higher today i did spite no sign of a deal on the fiscal cliff. take a look how we're settling out this thursday afternoon on wall street. the industrial average at 13,074. the s&p up just a fraction. will the markets get a boost from another cash infusion? ben pace says he's expecting the federal reserve to announce another round of stimulus at the meeting next week. is that what the markets really want right now? ben pace joins me along with chris heize and rick santelli. ben, let's talk fed policy. you think the fed announces qe-4 next week? >> i think it's the fact the twist operation is ending at the ends of the year, and they don't feel compelled to incrementally tighten that. that means it has to be replaced. that's the qe-4, the fact they'll continue to buy to continue to be just as easy as they've been since the september 16th qe- 3 announcement. >> so you think it's a continuation. what's the impact on the market, do you think? is it priced in? are we expecting that? what do you think? >> i think it's generally priced in. the thing that concerns me the mos
think the fiscal cliff uncertainty is going to continue t actually. so i'm a little more bearish in the near term. then i think it's a sell-off, if there is one, that should be bought aggressively for a rally in the end of 2013 that would be the beginning of a new bull market. >> when you say a rally towards the end of next year, do you think over the course of 2013 it's going to end higher? we're going to be higher than where we are right now? >> yeah, i mean, i think ultimately 2013 ends up higher at the end. i think we're going to go -- we're going to test some lower resistance in the first six, seven months of the year. we have so much uncertainty in washington. we do have slowing economies in europe and in the u.s. >> right. david, what do you say right now? break the tie for us. >> break the tie. in the near term, there's an epic tug of war between extremely aggressive monetary easing and just total disdain for what they're doing in washington on tax and regulatory policy. in the near term, the fiscal cliff prevails. in the longer term, the fed will prevail. there's so much
. >> thanks peter. always good to see you. again our two fiscal cliff portfolios for the first time since the election of november 6th, they are betting we will not go over the fiscal cliff interestingly enough. right now the dow up just 15 points as we head towards the close. much more to come on the second hour of "closing bell." >>> and it's that time of day. it's 4:00 p.m. here on wall street. maria will be back in the seat tomorrow. as the clock winds down to the fiscal cliff deadline, this is how we're finishing on wall street. at this stage it looks like we got a gain of only 14 points for the dow. obviously we were higher than that, not much more but were higher earlier in the day. the nasdaq up by only eight points and the s&p finishing up by just a trickle of positive. well, ticktock. the market is closed. seems to be waiting once again for some clear signal on what's going to happen with regards to the fiscal cliff. how can you make money in the final trading sessions of the year amongst all this uncertainty? >> we have definite answers coming with our panel. back with us natha
of a compromise on the fiscal cliff stalemate in washington. eamon javers standing by in a moment with information on a bipartisan letter from lawmakers that's. putting tax hikes and entitlement cuts firmly on the table. >> i'm bill griffeth. let's show you, and the charts tell the day's story, as it usually does. can you get when the president began speaking at business round table and we learned that at least 40 house republicans are breaking ranks to talk about anything, all possibilities as they said in an open letter. right now the dow is up 110, near the highs of the day. 13,062.59. the nasdaq is going the other direction. blame apple and overall technology having a tough day. down 13 points right now on the nasdaq at 2982. the s&p is holding with a gain of about five points. we'll have more on the markets in a moment. first, let's get to what's going on in washington. more republicans breaking ranks to join what we hope will be a bipartisan call for higher tax rates and entitlement cuts. eamon javers on capitol hill has the very latest details for us. eamon. >> reporter: hi, bill. that lett
on vacation without the notion. the fiscal cliff glasgows from being half full to half empty that's where we want it, and once it's half empty, it's much more immune to disappointment. that's because those hoping for a deal will be gone. checked out, sold. replaced by three types of strongholders. get this. first like when the debt ceiling was raised. a move that countered for a huge chunk of the markets. these people believe that some kind of deal is inevitable. they think selling now is tantamount to giving up the bottom. the second set. they feel it won't have much of an impact on the economy. they believe we won't go into recession and the whole thing is over, done. mellow drama even. they think fearmongers. and this is their group of strong holders. a little time passes, they think, hey, should be better off going over the cliff. rich will pay more of their fair shares and higher taxes on dividends. government spending sliced where it should be and and the bloated defense budget. unnecessary social programs. me? i think we aren't where we need to be yet when the it comes to abandoning a
reasons. >> i would guarantee if there is a fiscal cliff agreement, this stock shoots up big time. >> capital gains. that's all about capital gains in my mind. i cited other things i think are a problem but capital gains is why they're selling. >> have a great weekend, everybody. "power" starts right now. >> announcer: halftime is over. "power lunch" and the second half of the trading day start right now. >>> indeed it does. and today on "power lunch," no progress. a very stark assessment from the house speaker on where the fiscal cliff talks stand with 24 days to go. where should you put your money heading into this weekend? could be a very crucial weekend. >>> no worries. with the unemployment rate still near an 8% level, why some companies can't find workers. there's work and it is not a skills gap. we'll show you what else is being factored in to that equation. >>> and no fair, perhaps? well, a big change at big blue. ibm changing the way it pays down its 401(k). will other companies follow suit? tyler mathisen, my partner, who is always fair, always working, and is always a w
to look for some kind of a deal on the fiscal cliff. >> some kind being the operative words. hello everyone, again. maria is going to be back tomorrow but in the meantime you're stuck with me. let's see what the markets are up to today. the dow holding marginally above water. as for the nasdaq and the s&p, let's get a check on those two as well. they've been kind of positive today, but not superbly so. at least it is a positive start to the trading week. >> now, forget about the number of days -- shopping days until christmas. we're talking about 13 and a half trading days after today how to position your money ahead of what might or might not happen with the fiscal cliff deal. are we ready to go? let's find out how you should be investing. everybody's looking at me like i should not be saying something right now. okay. everybody's there. mandy? >> okay. joining us now we have a cast of thousands. dan mcmahon from raymond james. nathan backrat. and our very own rick santelli. thank you for joining us today. nathan, let's start with you. so 13 and a half trading days left. what do y
towards the sharp edge of the fiscal cliff. we've is asked our politicians to seem compromise and find a solution. the clock is ticking down. the stakes are getting higher. now we're turning up the pressure. this is a cnbc special report, "mission critical, rise above d.c." >> and we do welcome you to "closing bell." i'm bill griffith here at the new york stock exchange. hey, maria. >> hey there, bill. big rally where you are. i'm bartiromo coming today from the white house for our special coverage. stocks rallying on the on the missile that perhaps we are nearing a fiscal cliff deal. coming up we'll, find out from key lawmakers in the fiscal cliff negotiations how we can actually get a deal done before the deadline. representative chris van hollen, lynn jenkins and javier becerra as well as sore orrin hatch with us. we'll hear from former treasury secretary altman and jeff greenfield. bill? >> stocks are trading off the highs of the day with less than an hour to go. final hour, really from the get-go. optimism about the cliff talks and senator harry reid made some comments this aftern
closer to the edge of the fiscal cliff, every move is being magnified by the markets. president obama and house speaker john boehner spoke by phone on tuesday, exchanging new proposals. the president gave boehner a revised offer on monday, reducing his demand for new tax revenue from $1.6 trillion to $1.4 trillion over ten years. boehner responded with a plan that largely sticks to his original offer a week ago. reports say the white house has told republicans it would include an overhaul of corporate taxes in any budget deal. that hasn't been done before. in an exclusive interview with barbara walters of abc news, president obama says he still expects a deal before the end of the year. >> i remain optimistic that there are enough people of goodwill in this town that recognize our economy will be much better off. american families will be much better off if we get this done. the most important thing we can do is make sure that middle-class taxes do not go up on january 1. and i'm pretty confident that republicans would not hold middle-class taxes hostage to try to protect tax cuts for
't they know about the fiscal cliff? >> they look to be down 10%. >> we'll watch it. as people know in this market, many times the stock price has been going up. we'll keep an eye on this. it may be throwing people. what does it say about copper overall and the price of the metal. >> i worry, by the way, watch energy 21. this is exxi. another company that bought old properties. one of the things that's happening that's driving this, okay, is that there's new technology. american technology that's able to access oil that the big guys have given up on whether it be exxon given up on energy 21 has or bp and it turns out that these fines may have been bigger so pxp takes advantage of the fact there's new technology. pxp is a deal maker but ready to trade because capital gains taxes are going up. could be a fiscal cliff. the gulf is hotter than it's ever been even a few years ago it was ice cold. >> big story in the journal about exploration in this country. production 15-year high. brand new chapter here. look at the bottom of your screen. citigroup is cutting 11,000 jobs. we want to ge
despite the fears over the fiscal cliff? rick, let me kick this off with you. what kind of expectations are out there on this fiscal cliff story? we seem to feel that there's a deal in the air. why else do we see such optimism today? rick? >> oh, for me? i'm sorry. i'll tell you what, maria, i'm not sure what's going on in washington. i'm not sure who those republicans are. i'm not so sure on whether the fiscal conservatives in the party know something about some big reforms on medicare and medica medicare, social security is, any of the retirement or tax issues, but i'll tell you this. i think that all these stories aren't necessarily going lead us to the truth. i personally have a very size way i'm approaching this. the president is supposed to leave for a 21-day vacation in hawaii on december 17th. where he is on december 18th will tell me, and i think the markets will pay attention. i find it hard to believe, and i agree with bill and many, who are very not amused by the house taking their long weekend. i'm sure that the president would have no intentions of leaving until these issu
it comes to the fiscal cliff. but tim geithner just told cnbc that we're going to go over the cliff unless tax rates go up. at the same time, two dozen republican house members signed a bipartisan letter with democrats defecting from the boehner plan. in the meantime, a nice game for the day for the dow, but a stunning selloff for apple. do you know what? fiscal cliff or not, the s&p 500 is up 12% year to date. that is a handsome gain for investors, an optimistic year, believe it or not. and we already bailed out detroit's auto industry. but now, at least one motown politician is telling president obama he should bail out detroit bankrupt city government, too. this sure isn't the free market, and i asked why should a texas taxpayer bail out detroit? >>> breaking news from syria, and it is a blockbuster. the assad regime is walking and loading its chemical weapons, ready to use them on its own people. nbc's chief pentagon correspondent joins us now. jim, is this the red line president obama was warning about? >> well, not quite yet. u.s. officials tell us that the syrian military is poised
one major stock clearing house was raising margin requirements. and then there's the fiscal cliff. analysts citing fears about a hike in capital gains tax in 2013. rick santelli has been talking about this, though, the things that were up in 2012, those are the things being sold now, whether that be gold or any number of assets that rose appreciably over the course of the last year. we'll be talking about the future of apple and the outlook for its stock a little later this morning with jonathan geller of the boy genius report. >> good old bump on the road on the way to a trillion dollar market cap. got to 600 pretty easily. and now it's back at 500. above 600 i guess. tough to get to a trillion dollar market cap. cisco got to 600 billion once, too. it's at 100 billion. apple still at 500. we talked about are they going to come out with the chartreuse slightly smaller mini ipad. and that's going to be the -- a lot of people waiting in line for that one. >> i do have to say, i'm in the market for a mini ipad. >> not for the max ipad? >> no, i want something smaller to carry around,
if they are doing their part to rise above partisan politics and reach a deal on the fiscal cliff. good morning again, everybody. i'm becky quick. here is what we know right now. the pace of private talks picking up speed as we now have just 20 days left. however, neither the white house nor house speaker boehner's office are giving any public indication that either side is yet prepared to give up real ground. on a road trip yesterday, president obama indicated that he is willing to compromise, just not on that point about an increase in tax for relthy americans. meantime, speaker boehner says he is still waiting on specific spending cuts. joining us now for analysis, tony fratto, of hamilton place strategies and former white house press secretary and gerald bernstein former economic adviser to vice president joe biden. gentlemen, thank you for being here with us and getting this special day of coverage kicked off for us. >> rising early and rising above. >> exactly. let's talk about this. jared, it seems like things have gotten quieter. do you think that's the case? is that a good sign? >> i t
, where we stood with the fiscal cliff and where we stood in 1999 with the y2k situation. we borrowed a lot of growth in 1999 from 2000, and that led us to a recession. we're looking at the same thing now. we're seeing people have accelerated dividends, pre-payments, seeing a lot of companies that single proprietors are paying themselves this year in anticipation of higher rates. >> it's interesting that you point that out. it could be argued at the same time that we're delaying growth until next year because of the number of companies that have delayed hiring or capital expenditures because of the uncertainty about the fiscal cliff. >> yeah. well, uncertainty, unfortunately, is perhaps going to continue with this because the regulations are not going to go away there. may be a little bit more clarity but we're still writing up the regs on dodd/frank and looking at the health care thing. that won't be resolved in the first quarter. >> taking a cautious attitude. >> we think this is probably good. the numbers won't manifest themselves until the first quarter, but i think there's a lot
over the fiscal cliff if republicans don't give in on higher taxes for the wealthy. a little bit of trade data out of the uk. i didn't have a forecast for this. adjusted global goods trade deficit 9.5 billion. september unrevised. forecast here forecast at 8.65, so that is a wide deficit than forecast. adjusted 4.5 billion. sterling not reacting huge amount. european stocks today are firmer. up 0.4% for the ftse. xetra dax continues its strong momentum, we are trading at 52 week highs and up now about 27% for the year. bond markets which is where we stand with yields, spanish ten year yields slightly lower, but we were 5.2% beginning of the week was the handle. currency markets, not huge changes. euro-dollar just below 1.31, dollar-yen 82.44. euro trading, though, at a fresh day high it must be said. we have comments coming out of china on the smartphone segment. apple's rang in china smartphone market which will become the world's biggest this year down to number six in the third quarter. facing tougher competition from chinese brands. this is the research firm idc coming out wi
, simply because he has no clue whether we'll go off the fiscal cliff or not. i'm calling for opaque, return to the old days, of we have no idea what he means. >> the headlines the next day that are literally competing headlines. >> please, go back to being unclear. >> whether the journal or the "washington post." 180 degrees. >> what did he mean? >> there's plenty for conspiracy theorists today. ties to all the central banks all around the world, they have these secret dinners every couple of months. as if the fed needed more distrust among fed watchers, right? >> i havend the privilege last r of going to a dinner with fisher, who is crucial -- you look at the diagram. this is just an alumni association that has allowed other people in. this is an m.i.t. thing. fisher is regarded as being the man who saved east asia in the '90s. you know, these guys have been more than upfront that there's a club. i think it's just being written about for the first time. >> yeah. mark, the consensus is $45 billion in monthly purchases of treasuries. that's what's expected. if we don't get that, a lo
for your businesses and it is not a game i will play. >> but the fiscal cliff still looms. cnbc has called on lawmakers to rise above gridlock and reach a deal. now we're beating down their doors. live from our nation's capital, this is a cnbc special report. mission critical, rise above d.c. >>> welcome back from our nation's capital. i'm mario bartiromo with brian sullivan. we continue our fiscal cliff coverage, "mission critical, rise above d.c." we've heard a lot after a morning of interviews and action on capitol hill. here is what we know now. just a short while ago house speaker boehner said he's still waiting on a solid plan from president obama. >> i'm hopeful we can reach an agreement. this is a serious issue. there's a lot at stake. the person people sent us here to work together towards the best possible solution, and that means cutting spending. the president doesn't agree with our approach, he's got an obligation to put forward a plan that can pass both chambers of the congress. >> meanwhile despite all of the back and forth, the market is seemingly optimistic today. at least
this before, haven't we? what do average americans want to see in a fiscal cliff solution. we've got the exclusive results of our exclusive cnbc all-america economic survey. >>> now to everybody's all-american, sue herera standing by at the nyse. >> you're sweet, ty. thanks. >>> we're a little bit on the downside. we really kind of retraced a little bit on the dow jones industrial average. previous to this we were solidly in the green in all three of the major market indices. the dow now down 14 1/2 points. nasdaq up eight. the s&p is down just a fraction. of course we are also watching apple on the back of yesterday's drop. the stock today is traded up $4.82. that's just under a percentage move to the plus side. it's rebounding, still at bear market territory, however. it has lost over $50 billion in market cap over the past few days alone. our bob pisani joins me here on the floor of the nyse. what are you hearing from traders? the market is drifting a little bit. the focus is on apple. there seems to be a little bit of enthusiasm that it can come back to the up side. >> we were up
, ross. i mean, you don't really know what is going to come out of the u.s. fiscal cliff, how damaging potentially that can be to u.s. confidence, u.s. activity. things seem to be holding up fairly well in china. but i think there is still going to be some concerns about the whole performance of the asian economy and whether that can actually pick up next year. and then, of course, in the eurozone itself, we seem to be mending the problems progressively and taking out the tail risks, which i think is good and that is the bottom line that investors should take going further forward, but at the same time, there are some elements that you can have. if you do a forecast, in a way you could come up with something like 1% quotes for next year, but at the same time, you have to be conscious that we've had such a battery of downside impact, downside negative news coming through really for all economists in the western world in the last few years. you have to be very cognizant of those. >> i think so. julian, we're going to leave because we have to get a break in and we've got to g to egypt as
over the fiscal cliff. just in case, though, we've got some experts on happened to help you protect your money. here's how we stand right now, though. it's been a generally positive day for some of the blue chip averages. the dow among them. up 57 points right now, near the highs of the session at 13,003 and change. the nasdaq continues lower. you can blame apple. technology suffering as a result today, down 12 points right now at 2977. the s&p is up 2.25 points at 1416. with less than an hour to go in the trading week, another week without a deal to avoid going over the fiscal cliff. while today's positive jobs report did give markets a boost early on, it wasn't enough to get a significant rally going and to continue it on. so what's it going to take to get some conviction back in this market? >> that's in today's "closing bell" exchange. gentlemen, great to have you joining us here on "closing bell." i think bill pretty much cede it. what is it going to take to get conviction back in this market? i kind of know the answer, but i want to hear you guys say it. give it a crack, jim.
to the fiscal cliff. cnbc's challenge to lawmakers to rise above partisan politics, seem compromise and find the solution. the clock is ticking down. the stakes are getting higher. now, we are turning up the pressure. this is a cnbc special report, "mission critical: rise above d.c." >> welcome back to our continuing coverage, mission critical: rise above d.c. we've been here all morning long. while we've been here on capitol hill, we've been talking to lawmakers about rising above gridlock and reaching a real deal on the fiscal cliff. in the last hour we sat down with grover norquist saying no one should strike a bad deal, and that there is no better reason to raise taxes now than there was in the past. he also added he thinks house speaker boehner has been a good leader during the fiscal cliff negotiations. and then we were joined by bob corker and bob conrad. corker said we need to focus more on entitlements now, and he will not sign any package that doesn't deal with entitlements at this point. conrad said more, not less, should be included in some sort of a big deal. by big deal, he mea
talking about every morning here since the election. fiscal cliff, big, big issue. there are now, it seems, growing numbers of people on both the right and the left who would like to see us just go over that fiscal cliff. how big of a problem would that be? >> that would be a big problem. i actually still believe that those -- the democrats, the administration, republicans in the final analysis don't want to see that happen. they do understand that not only would that present a problem in the near term as we went over the cliff at the end of the year, but we still then have the whole debt ceiling fight that would transpire shortly into the new year. the issue isn't simply the negative result of going over the cliff, but it's also that business, consumers, everybody continues to hold back on the uncertainty. and we believe the economy is pretty well positioned potentially in 2013 if we can put this behind us. so i think a lot of what's going on is what you would expect to see in this negotiation, very public negotiation, which is not the best way to do it. i think at some point, the preside
three weeks left before the u.s. goes over the fiscal cliff. >>> italian shares are down nearly 3% this morning. for the most part, it is bank stocks leading the way down. we're now down about 2.76% on the ftse mib. bank stocks have been hit particularly hard this morning. earlier, we saw shares down 5.6%. we're seeing the same thing, whether it's bmps hitting session lows down nearly 6% comes amid concerns about leadership and economic reform in italy following mario monte's announcement that he'll resign once the budget has been passed. this move is likely to bring the country forward to elections next year. the italian prime minister has offered no clue as to whether or not he will run and it comes after sylvia berlusconi declared over the weekend he would throw his hat in the ring for the job of premier. carolyn ross is in italy following the details there. can you walk us through the time frame here? when are we expected monte to step down? what happens next? >> good morning to you, kelly. here is the time frame for you. over the next few weeks, we're expecting the budget sta
catching a lot of people by surprise. >> it's a fiscal cliff decline. this is the greatest capital gains generator of our lifetime. i would love to see what the gains are going to be next year. but i would be saying you need to sell it. we have no idea where the capital gains are going to go, we're going to go over the fiscal cliff, what do you have to lose, the rates are going to go up. i don't think it makes any difference two tim geithner says. >> it is so widely held by so many who want to play the stock market, let's say, beyond just the capital gains, whether it's in taxable account organization not and it also has the psychological impact that this is the one that i'm going to get out of because i'm afraid of what's coming in general? >> this is the stock, yes, it's cheap, now once it goes down, we have a million reasons, well, it's a nokia phone, well, it's china. ipad miniis available. this is a stock that's so widely owned. it reminds me of sirius satellite. every doctor, every dentist owns apple. they don't know the price per share, they just know it is the proxy for the marke
it anymore -- fiscal cliff is? today we got an incredible employment report from the labor department. with 146,000 new jobs. i was looking for 90,000. the unemployment rate dropping to 7.7. i thought it might be 8%. and all this despite the effects of hurricane sandy. who knows how high we could have been if it weren't for that darn hurricane? yet the market barely blinked. yet the potential layoffs if we go over the cliff make these rearview numbers seem almost irrelevant to the market. hence the mixed performance of the averages today. sure, dow gained 81 points, but the s&p barely budged, edging up 29%. and the nasdaq actually declined .38%, led once again by the slip sliding away apple, which you know i like, but how many times during a particular show can i say i like it? so with that in mind, what's the game plan for next week? first off, perhaps the most important day of the week is monday. but not for any earnings. not for any releases. that's when we process the results of the weekend talk shows, which you now have to watch as if we were instead of watching, you know, colleg
are higher as fiscal cliff song and dance continues in washington. mr. boehner says he is waiting for a proposal from this gentleman, the president. president obama. and the president is set to speak about the cliff and the a economy later today. >> i thought i was supposed to come here today. you thought you were supposed to come here today. so we are both here. not really, folks. a lot of talk today is about what investors should do if we go over the cliff. what should we do if there is a debt deal before year-end or shortly thereafter. we have smart strategies and individual stock picks for you this hour. >> that's right. well also take a look at another side of google that you very rarely hear about. the internet giant stashing billions in tax shelters to avoid paying taxes. is that fair play or outrageous corporate behavior? especially in this climate. well talk about that. but first, markets are generally higher. dow jones industrial average up 29 points on the day. nasdaq is up 7. and s&p 500 up about 1 1/2. >> they've been that way about the last ten days or two weeks or s
and the fiscal cliff. republicans want a melt on xwiemtment and tax reform from the president. democrats insist this will not happen until the gop agrees on a tax hike. senator dick durbin saying no deal on the debt without a tax hike of the wealthy. >> i can't tell you, i don't want to do it, the president doesn't want to do it, but we need to solve the problem been we cannot allow the reckless position to drive this economy into another recession. >> some suggesting that it might be better to cave to the president now on taxes and keep up the fight on spending. >> if we were to pass, for instance, raising the top two rate and that's it, all of a sudden we do have the leverage of the debt ceiling and we haven't given that up. >> meantime, one influential voice says enough is enough. >> that's like betting your country. there's something terribly bizarre and juvenile about that is to think your party comes ahead of your country. i don't go for that at all. >> that, of course, was alan simpson, the other half of simpso simpson-bowles. erskin bowles will join us this morning, as well. if you have
with the sunday talk shows, focusing on the fiscal cliff. it looks like we're looking at a lower open for the dow. as for the action in europe, really, the action focuses on italy where there's an impending political regime change. more on that in just a moment. the road map starts at the golden arches. mcdonald's blowing out expectations for november sales after the dismal drop in the month of october. hoping to fuel the rise, the bacon/onion/cheddar sandwich. >> there's one thing for certain, taxes on top earners are going up. >> turmoil in italy. berlusconi throws his hat in the ring. retail sales numbers out of china, hoping the economy is in fact on an upswing. >> apple, enthusiasm. jeffreys trimming its price target to 800 from 900, as apple shares do trade lower in the pre-market. we'll start with mcdonald's, posting better than expected november same-store sales, global comps up 2.4. u.s. same-store sales up 2.5, offered by breakfast offerings, including that cheddar/bacon/onion sandwich, as melissa mentioned. jim? people are saying the u.s. maybe is making a turn here. >> i find mcdonald
it be to see as part of the fiscal cliff resolution some near-term stimulus? the president's proposed that. do you think -- how helpful do you think that would be, and i'll ask my followup now? whatever happened to your southern accent? >> well, on the second one i'd like to think i'm bilingual. when i go home, sometimes it comes out pretty strongly, but i won't try to do that here. so i try to be careful, as you know, not to give views on specific tax-and-spending programs. i think, of course, obviously those are the province of the administration and congress. the attitude i've taken has been that at a minimum congress should try to do no harm, that they should try to avoid policies that -- that significantly slow or derail the recovery at this point, so i think that's the critical thing, along with the long-term objective of achieving a sustainable fiscal path. now, given that basic -- that basic recommendation, you know, congress can consider variations. for example, if they believe that they can achieve a strong, credible future path for fiscal policy, that would give them potentially som
and congress -- ♪ you are now screwing up this fiscal cliff stuff royally with your hard line positions and your ridiculous protestations that you can't compromise. here's why. we are close, very close right now, within our grasps, to becoming the leader of the world when it comes to technology, innovation, natural resources, and finance. you are the only thing standing in our way. you are our ball and you are our chain. we saw glimmers of it today. like today dow rallies 40 points, s&p gained .33%, nasdaq .52%. whether it's the ceos of the biggest of the big,or the smallest of the small. tonight's guest of lumber liquidators, the intransigence the mean-spirited debates, the pledge is not to raise taxes, it's costing this nation a once in a lifetime opportunity to reassert itself as the leader of the free world. and faster growing the repressive communist world to boot. your inability to give us a deal, any deal is crushing our economy. allow me to explain. since i read @jimcramer on twitter, people say i'm biased. i believe that the compromise which all the common sense people are look
'm larry custody low. this is kwoez custody. all right. some possible optimism on the fiscal cliff. the gop seems to be in a strategic retreat and is likely to allow middle class tax cut bill to pass before december 31. now that's what my washington contacts are telling me. there are many bells and whistles. i believe that's likely. the president went to detroit today to send the fiscal plan and came out against the michigan right to work effort like he did in wisconsin and he's going to lose this one in michigan. meanwhile the economy and jobs are improving but the use of budget busting food stamps continues to soar. could the aggressive food stamp reason why? wait until you hear some of the radio ads. >>> proeb jumped head first into a right to work law today in michigan. eamon javers has the details. good evening. >> reporter: good evening. we are monitoring fiscal cliff talks. it's been radio silence from democrats and republicans in washington. they're sticking to preagreed upon talking points explaining that lines of communication are open. we don't know what it is speaker baner and b
is happening because people have looked over the fiscal cliff and they weren't terrified by what they saw. i hope we will get by. i hope they don't mind government intervention in their portfolios. because they are not going away. i hope that because what i heard in washington today were two sides even though i can tell them that a deal would be done and there would be no vacation without legislation, we'd be in much better shape. i have to tell you, as encouraging as the market was this morning, the situation in washington is as discouraging. one after another i started with a new tack. i said let's go there. i said i totally agree the issue of spending not revenues. tell us what you have done to get spending done. did they give this fellow traveler some ideas? no. they attacked the president. each time when i asked for ideas on what to cut, like right now, lower drug prices or pulling back our army from japan and europe. like every other country in the north does, like pulling back on positions from our army. i got the same response. it is the president's fault. i might have well have been
been made or how little progress between the president and congress on the fiscal cliff situation. >>> and we'll find out just how much the european debt crisis has affected tourist's willingness to travel to southern europe. >> and then south korea's presidential election, yes, it's not just japan, and what to expect from the winner. >>> let's just plug you into where we are with this global market. more now on the global trading day in europe. 5-4 advances just about outpace decliners on the dow jones stoxx 600. most european stocks were up yesterday. the dax up 13 points. the dax, second highest close of the year, still up 27.5% for the year. right now, the ftse sound, the cac kron, closed at a fresh 52-week high. and the ftse is up 13 points despite falls from italian banks. let's show you where we are as far as the bond yields are concerned. we just check in. italian yields, 4.4% on the year. we'll show you the twos and tens, as well. i'll give you more on how that compares to where we closed yesterday. so the two-year, that's the low where we were yesterday. 10-year spanish
. >> larry, at the white house we have a flurry of activity on the fiscal cliff. exchange of offers and not sure how much real progress there is. but we'll have the details. >> and optimism. and the fed driving the market higher. first time since mid october. the kudlow report begins right now. >> all right but we begin with the breaking news coming out of michigan where republican governor snyder just signed into law a right to work bill. lawmakers passed it today despite thousands of union workers who came to protest. we have the late ev. good evening ron. this one got pretty rowdy didn't it? >> it did indeed. but because there were two arrests as we are told. two people tried to storm into the governor's office building across the street. police were happy with how folks hafed themselves today. probably 10,000 probably a smaller group than we saw in wisconsin last year when that issue blew up in neighboring wisconsin. today i spoke to the governor who said this is not about the charges coming from the leadership. he said this is about fairness and giving workers the right to choo
dimon. taking about the fiscal cliff. do they expect a deal? their take on what happens if we do go over. my partner sue at the new york stock exchange. my partner sue with big interviewes this hour. >> that's right, ty. i spent the afternoon at blackrock's trading room and i got their outlooks for 2013. you will see it first here on cnbc. >>> here are investment take aways. fixed income. they feel there is danger in what many people consider a safe play. commodities, they have a long view there in many of those sectors. equities is kind of a global shorg an board, if you will. but they like the u.s. best. and in currencies, blackrock is all about being a dollar bull. so where specifically are they putting all that money to work in light of fiscal cliff? take a listen to what bla blackrock's robert casid 0 to me. he manages the firm's $3.7 trillion in assets. >> does this mean we good over the fiscal cliff. >> it is a very high likelihood it does or 11:59 on december 31st with a lot of hoopla. but tax rate are going to go up. there is a going to be a conclusion to this. even if it waits
the state of kentucky. senator paul, welcome, as always. i want to ask you about the fiscal cliff, the state of play. there's revenues on the table. there's tax rate increases on the table. i don't know if there's spending on the table. what's your thinking prigt now? >> that it's a really, really bad idea to raise taxes. if you want your economy to grow, you should do the opposite. we have to cut taxes. that's how i'd fix the economy. leave more money in the private sector. the president is adamant about raising taxes and he's dead wrong. >> there are some people saying we need a deal to avoid a huge tax increase but year end that would throw us into recession. just a thought, would you compromise in terms of let's say a smaller tax rate increase -- let's say the top rate goes to 37% instead of 40%, maybe the threshold goads es to $500,000 $750,000 rather than $250,000? does that interest you? >> no. but what about means testing for entitlement. why don't we say the rich get less social security and they pay more for their medicare? it meets the president's animus that we must get more mone
be apple. >>> to washington now. the soap opera we call the fiscal cliff. before we get to our chief washington john harwood and the president is meeting with another grouch ceos, i need to start with eamon javers on capitol hill where lawmakers are skipping down early for a long weekend. eamon, wasn't thanksgiving just a couple weeks ago? >> it was. let me check michael ichaey cal. you see rank and file members of congress leaving the capitol. they are done for the week. they're headed back loam to their hometown districts. a lot of folks focused on this negotiation right now but the reality is that the negotiations are taking place among just a very few, very high level people. i was talking to a few rank and file members yesterday who said they were frustrated there is not a whole lot for them to do, they are just sitting around here waiting for some break-through in these negotiations. they want something to do on the floor, in their offices and there is not much for them to sink their teeth into. now they're going into their district. leadership is going to stay here and continu
of job growth. a fiscal cliff go over -- >> snatching victory from the jaws. >> a superstorm. nothing can stop the generation of jobs in this economy. >> there's a great article today in one of the papers about how apartment building, we have a shortage of apartments and shortage of housing and shortage of autos and shortage of office buildings developing, shortage of shopping centers, shortage of shopping malls. this is what begins a movement. you have to hire eventually. now you could say people are not looking for work, come on. look, jobs are here. they can -- it can be just easily reversed if you have no idea what is the future because of washington. >> given the data points that we've had in terms of claims numbers that did reflect an impact from sandy, they said 85,000 jobs or 86,000 jobs were sliced because of impact of sandy. average hours worked unchanged. doesn't that -- i don't know -- doesn't that bring into question a little bit the participation in the survey. how can it have no impact whatsoever? it seems curious to me. >> it does call into question whether these numbers c
on in town. in washington news, both parties hinting at renewed talks on the fiscal cliff. the acknowledgement of open lines of communication passed for encouraging news. a new survey finds more than 60% of leading investment professionals predict a shorp stock decline in the market if the government fails to come up with a deal. in this case defined as a more than 10% drop in the dow. 56% surveyed foresee a deal to avoid the cliff by year end, 44% predict failure in the ongoing negotiations. as for corporate america, through yesterday's close, there have been # 70 announcements of special dividends. these special difference deebds are valueded a more than $30.1 billion. among the latest names, mcgraw hill will pay a special dividends of $2.50 a share before year end. and drop its previously announced plan to buy back up to $200 million more of stock this year. >> everybody's paid their dividends this year, so they won't be paying them next year. >> this is a major issue. what's going to happen is -- we have two great economists onset. but that money will get annualized, s
the fiscal cliff tax hikes that are coming. let's faulk about this. we have igor volsky and guy benson. guy benson, i am glad they have won't up to this lousy medical device tax but did someone say minnesota where, wait, medtronic and st. jude medical are the biggest companies? they're the ones that make the equipment? and senator klobuchar and senator al franken are all of a sudden making a beef because it's in their state? where they been, guy benson, and when did they discover that taxes are job kimmers? >> i thought that wasn't the case at all. you're right. they didn't just wake up to this. let's be completely honest about what happened here. they knew all along that the medical device tax was not just a job killer but would really stifle medical innovation. we've heard this from people across the spectrum. the people involved in this industry who are making america the leader when it comes to world medical innovation, they're saying this is really going to put a crimp in what we're able to accomplish. now at the last minute, the 11th hours, you have 18 johnny come late live democrats,
up 7%. i'm still long it. >> dan? >> once we get a fiscal cliff, i'm going to shot xly. >> karen? >> i like finish line. wasn't great today but very attractive here. >> beakers? >> look for other places besides the u.s. stock market. the metals were on fire today, particularly silver. slv, that's the way you play it. goes much higher. >> all right, i'm melissa lee. see you tomorrow, 9:00 a.m. we have the ceo of tomorrow's ipo solar city, then back here at 5:00 >>> i'm jim cramer and welcome to my world. >> you need to get in the game. >> he's nuts! they're nuts! they know nothing! >> i always like to say there's a bull market somewhere. "mad money." you can't afford to miss it. i'm cramer. welcome to "mad money." my job is not just to entertain but i'm trying to teachary and coach you. call me at 1-800-743-cnbc. you can blame the democrats for their inability to offer any cuts for spending. you can blame the republicans for not even wanting to consider tax increases. but don't you dear blame ben bernanke for not being willing to take bold action to get this economy hiring and mov
and knock me out. apple. if we're going off the fiscal cliff, we know capital gains tax rates are going higher, right? right? that's obvious. do you really think the republicans have the power to keep those capital gains rates down? apple's become a referendum on the president's power and polling. right now he has the upper hand, then he can really roll them and intends to do so. it's reasonable to take some profits so you can pay the tax man less now rather than more later. it's a wimpy thing, it's logical, makes perfect economic sense. especially if you hold apple. so the stock gets hammered. it makes sense to sell it. but let's be less emotional and even clinical about this one. first, divide apple's share price by ten, now you have a stock that got crushed down to $54. when you do that arithmetic, it isn't all that scary, is it? where does the pessimism fit in? when we have to endure the pin the tail on the selloff game, what excuses for the selloff, myriad alibis i hear from today's action. apple's losing share to google, it doesn't have the right phones in europe, nokia's making a
payments. >>> now to the really big financial story, the fiscal cliff. house speaker john boehner says president obama has wasted another week by not making a real proposal. meanwhile, republicans are divided and senator rand paul on this show last night may have made the most constructive proposal of all. >> i'm happy not to filibuster it. i will announce tonight on your show i will work with harry reid to let him pass his big old tax hike with a simple majority if that's what harry reid wants. then they will be the party of high taxes and they can own it. >> all right. without that kind of republican strategic retreat, the december 31st deadline is not likely to be met. in today's jobs report it was positive and it beat the street and stocks went up. how do we move 150,000 jobs per month up to 300,000 which would be a real recovery? first up breaking news out of the supreme court this afternoon, the nation's highest court agreed to take up the explosive issue of same-sex marriage, agreeing to hear challenges to the federal defense of marriage act and california's proposition 8. nbc's
Search Results 0 to 49 of about 57 (some duplicates have been removed)

Terms of Use (31 Dec 2014)